Correlation Analysis Between ATX and Greece TR

This module allows you to analyze existing cross correlation between ATX and Greece TR. You can compare the effects of market volatilities on ATX and Greece TR and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in ATX with a short position of Greece TR. See also your portfolio center. Please also check ongoing floating volatility patterns of ATX and Greece TR.
Horizon     30 Days    Login   to change
Symbolsvs

ATX  vs.  Greece TR

 Performance (%) 
      Timeline 

Pair Volatility

Given the investment horizon of 30 days, ATX is expected to generate 0.36 times more return on investment than Greece TR. However, ATX is 2.74 times less risky than Greece TR. It trades about -0.19 of its potential returns per unit of risk. Greece TR is currently generating about -0.16 per unit of risk. If you would invest  332,908  in ATX on September 15, 2018 and sell it today you would lose (13,093)  from holding ATX or give up 3.93% of portfolio value over 30 days.

Pair Corralation between ATX and Greece TR

0.64
Time Period1 Month [change]
DirectionPositive 
StrengthSignificant
Accuracy100.0%
ValuesDaily Returns

Diversification

Poor diversification

Overlapping area represents the amount of risk that can be diversified away by holding ATX and Greece TR in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on Greece TR and ATX is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on ATX are associated (or correlated) with Greece TR. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Greece TR has no effect on the direction of ATX i.e. ATX and Greece TR go up and down completely randomly.
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Comparative Volatility

 Predicted Return Density 
      Returns 

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Alphabet
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